Hi Guys and Gals,
I was curious? Does anyone lease their Chargers? I am thinking about leasing but have never done it before.....
Historically I have bought a car new and traded it in within 32-40 months for a new car. (2002 Stratus R/T , 2004 Neon R/T 2006 Mazda 6s to name a few). I was thinking since I always want a newer car why not lease?... My miles are very standard and consistent. My car is basically just a commuter, my payments would drop considerably in compared to my G8. I have been quoted $335 a month after taxes and fees and $1000 down for a 2013 Charger R/T AWD with a spoiler (12,000 miles X 39 months). That seems very reasonable. Any thoughts on this price?
Just curious if anyone has any pointers, things to look out for on a lease etc. I dont plan on modding it since its bloody fast stock and appearance mods are not my bag. I think overall its fits my mold but having never done it I am a little nervous about it.
One question I have is if I run over my total lease miles and rack up extra milage charges am I able to just buy out my lease to get around that?
I have a few suggestions for you. The first would be to make sure you have enough mileage in the contract. What I mean by this is that if the lease price you are quoted is for 12,000 miles and you think you might have a chance to go over mileage, ask how much the lease payments would be for 15,000 miles a year. Sometimes these charges are minimal, lets say $20 a month if purchased up front but costly, .25 a mile, if you are over at the end. So lets say you wind up driving 12,500 a month. Just by averaging 500 more miles per month than what is in the contract you will be 18,000 miles over on a 36 months lease. At .25 a mile, that's $4500 or $125 more a month. So by paying $20 or $30 a month more up front for 15,000 miles a year, you minimize the risk of going over the mileage and getting a big bill at the end.
As far as buying the vehicle out at the end, you can certainly do that. In most cases though, you will wind up paying sticker or more which isn't a real good deal. Sometimes they will offer you a good deal on the lease buyout, such as if the residual value has dropped, but do you want to count on that at lease end? If it happens to work out that way were you like the car and want to do it because it is a good deal that's great, but don't plan on it.
Secondly, check for turn in fee's. Specifically ask if there is a disposition fee. I have seen disposition charges as high as $500 at lease end, regardless of condition.
Lastly, look into a service contract on the lease. For example, the Mopar Vehicle Protection plans (formerly Chrysler Service Contracts) offer short term lease plans that typically cost under $500 and they cover excess wear and tear charges up to $5,000 including tires.
I hope this information is helpful to you.